Bitcoin
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- ********1
Litecoin creator issues stern warning after the cryptocurrency doubles in a single day
- LTC just took a nice dip. From $400 this morning to $350 right now. Maybe it’s your time to grab some. It could be the last dip in a while.HijoDMaite
- Just wait til it's back at $50, then use that $50 and go treat your girl instead.detritus
- 'Treat' and '$50' together doesn't sound too impressive now when I read it back, I realise.detritus
- Oh, I can introduce you to some girls who won't think twice about a $50 ;)OSFA
- chukkaphob3
- the only currency I can get behindkona
- If I can touch it, unwrapp it, smell it, taste it, take a bite off it, then it's a real currency!chukkaphob
- Bennn0
Seriously, its pure gambling at this point... If you put 1,000$ into crypto-money, that means you're willing to maybe lose 1,000$
- it's truedbloc
- lol. Benfal of the day********
- Obvious facts once again delivered! :)Bennn
- there's undoubtedly a bubble scenariomonospaced
- you guys, I think bennn is on to something here!lvl_13
- LOLOLOLpango
- it's true but then again... EVERYTHING is gambling. Literary EVERYTHING.Miguex
- risk vs rewardumbee54
- "Literally"Maaku
- you are light! soly maaku!Miguex
- Benfal the detective! LOLchukkaphob
- Sherlock Holmes I presume?yuekit
- Miguex0
I just got started on this already more than doubled what I put in like 4 days
- Hahahamonospaced
- ha... kinda love that game... kill hours on it in airports (and airport bathrooms)PonyBoy
- scarabin_net1
what exactly are they saving us from?
not bank bullshit, because transaction fees are ridiculous.
not the pitfalls of other currencies, because nobody is even spending them.
they might as well be POGs
- yupmonospaced
- right, the real value will be determined when the coin can be valued on how you earn it and what you can spend it on. not how many USD it is worth.BabySnakes
- it's a bubble, and it has to burstmonospaced
- Things don't happen over night. They have to start somewhere. If you fail to see what the benefit of cryptocurrency is over banks for our future...********
- ... then you simply need to do more reading. Bitcoin is paving the way though will be pushed aside by another because of fees and energy usage********
- This is one of my fav Youtube channels and he does a good overview: https://www.youtube.…Chimp
- You ask what they're saving us from as if you think the banking system isn't the biggest problem on planet earth...********
- Anyone wants to see my pog collection?pango
- I don't pay my banks any fees. Never have. They pay me interest.monospaced
- you're right, crypto currency has a long way to go before it becomes what it is intended to be, but it probably will eventuallymonospaced
- it's been around for like a decade and hasn't solved a single thing, setscarabin_net
- lol scarabin. Shake my fucking head at all your comments today, son. Currency based on paper not metal took 500 years to be properly integrated.********
- It's been around ten years, (lol) yes, but it's still not even in the consciousness of most humans on this planet. WTF are you expecting exactly?********
- so in 500 years bitcoin will finally be useful?scarabin_net
- Why so dumb today? Who knows now long it will take....********
- How *
:)******** - Within another 10-20 years is a reasonable estimate. Depends what you mean by useful though. I made a lot of money from bitcoin which is pretty useful.********
- OSFA-1
My concern is... if I buy bitcoin or LTC, and it hits a number I am happy and comfortable with, how easy is it to sell part of it, collect profit and keep going?
Have any of you had issues selling?
- At a currency exchange recently, my wife saw someone trying to sell a novelty plastic bitcoin. Evidently the numbers are "inside it somewhere". They didn't buy.monNom
- Ive bought and sold on coinbase no problem. If they are overloaded, it takes a while, but it comes throughBH26
- @BH26 when I try to sell on Coinbase I can't take out the full amount it says I have. Any ideas why?Chimp
- It's extremely easy. Sometimes transactions get delayed when a service is swamped but I've had no problem withdrawing********
- i think he means withdrawal limit. you need to verify your account etcdrgs
- I'm still waiting for the account verification, perhaps it's that.Chimp
- Coinbase only allows you to sell if you're in the US or have a US bank accountspot13
- You can buy and sell from many countries: https://support.coin…Chimp
- Read an article that banks like Chase are closing accounts because of BTC? Should I look for a BTC friendly bank before I jump in?OSFA
- drgs0
All coins are pumping. I've been doing some research (= looking at youtube) It seems there is money flow from Bitcoin and back into well-established alt coins -- Ripple, LTC, NEO, ETH which will all regain their old value in the following months
Also like you I have no idea what I'm doing, but it's the cryptocoin week on QBN *visor tip
Get in the right mood
http://www.imdb.com/title/tt0131…
http://www.imdb.com/title/tt0181…
http://www.imdb.com/title/tt1615…
- zaq6
- Zingjmckinno
- BAMGuyFawkes
- Don't college
www.theatlantic.com...********
- fadein110
Ethereum is going nicely, up 70% this week.
#plsgolikebitcoin
#plsgolikebitcoin- I reckond drgs' comment below on this is most likely.
#sorrynotsorry******** - If you view these things on a weekly basis they will drive you mad, they fluctuate so much is not even funnyMiguex
- I wasn't being particularly serious :)
70% return though... nice.
I realise the big boat has sailed though.fadein11
- I reckond drgs' comment below on this is most likely.
- R_Kercz0
Anyone have any thoughts about Stellar?
https://www.stellar.org/- Supposedly integrated with IBM. The current wallet is a bit of pain to get going with.BH26
- https://twitter.com/…drgs
- Miguex-1
- Ianbolton0
What if this isn't a bubble or fad and we're looking at an out-and-out replacement for world currencies because people are pissed off with bankers? Unlikely I know, but what if the global financial market crashes again? I'm just sat here rubbing my hands waiting for something to happen.
- Whether it happens within a decade, a century, or more I'd say it's almost totally inevitable...********
- You do know that was the whole point in the first place?********
- crypto currency is in infant stage. It's here to stay. Gambling aside, this new technology will create new industries and change the way we use currency.zaq
- I get it was the main intent, and completely inevitable but I love all these people who say 'it'll crash' or 'it can't work' and whatnot.Ianbolton
- Almost like they're trying to calm people down but it's impossible to stop people going crazy for it.Ianbolton
- Yea, well people were saying that when it was at $100, then $500... Then $1000... Then $5000 etc etc haha********
- what i don't understand is how to control the growth of blockchain size. that makes me think it wont work out********
- Bitcoin as I understand it has some pretty serious technical issues in terms of speed and transaction cost.yuekit
- What's interesting is that you now have so many people working on similar concepts, and mainstream media discussing it.yuekit
- monkey see monkey do? i talked to my mom last night and she mentioned she heard of bitcoin just the other day and asked if it was really a physical coin.********
- makes me think maybe its hit its saturation point. since my pops just retired and he needed financial help wanted t make sure he didnt got bitcoin by an advisor********
- Whether it happens within a decade, a century, or more I'd say it's almost totally inevitable...
- ********0
https://www.coindesk.com/high-fr…
and this is why the market of currency speculation is pointless for the average joe. can buy and hold and try to sell but your odds are against you like megabucks in an airport.
- and i wonder how many bots are involved with timed ddos attacks********
- and i wonder how many bots are involved with timed ddos attacks
- yuekit0
One thing that is interesting is that Coinbase and other exchanges tend to have limits on how much you can invest each week.
This combined with the current level of interest and media coverage could mean you have small time buyers putting in a little bit each week, i.e. a few hundred or thousand at a time.
If that's the case then I'm having trouble imagining why the price wouldn't continue to rise steadily at least in the short term. A gradual rise punctuated by a buying frenzy when it hits certain milestones such as 20k etc.
And if six months from now you've had a similar increase in value (such as price doubling again), wouldn't that simply encourage more people to begin this process?
Just trying to think about what scenarios would lead to a continued increase now that the price is already so high, or a crash...
- a large whale could have a bot network trading amongst oneself to get around the limits, making it seem like more small time action to try and sucker you in********
- a large whale could have a bot network trading amongst oneself to get around the limits, making it seem like more small time action to try and sucker you in
- drgs0
Split your investments among these 7, forget you have them and you're golden
- monNom0
@yuekit
As prices start to rise, fewer people are willing to sell. If they sold, they would miss out on future gains. At the same time, those rising prices attract outside interest and outside money starts trying to buy in to the rising asset. This bids up the price of the few available coins that holders are willing to sell, which in turn leads to rising prices. Go back to step 1. Rising prices become a self-fulfilling prophecy
Now, as those prices are rising faster and faster, fewer and fewer people are willing to sell, and fewer people can afford to buy at the prevailing price, so the market becomes more thinly traded (Less buyers).
At some point, an external shock, or a change in sentiment encourages some owners to sell. If they dump a large position, they can saturate all the current buyers at a given price, and if they want to continue selling, those sellers will need to lower their price until they find additional buyers at the new price-level.
If other buyers start to see that the price is going down, they may be reluctant to buy in for fear of losing their money, which reduces buyers further, and so the price tends to fall further. Other's see the lower price and start to sell to lock in their gains, but as there are few buyers, and a lot of coins now hitting the market, the price starts falling faster to find the point where someone is willing to buy at again. Falling prices become a self-fulfilling prophesy.
That's basically how you end up with a bubble, and how a bubble pops. It has nothing to do with the quality of the underlying technology/asset, it's all about momentum, greed and fear.
Any asset that can double in a week can get cut in half in an hour.
- Imagine a world where dollars ceased to exists. There are many other currencies that have logic built in. They have ability to expire, ...zaq
- ..., ability to be spent on food or on clothing. or perhaps you can pay only rent with them. You can transform your own energy into coins or use green energyzaq
- to generate coins.zaq
- Thanks monNom...I guess the question is at what point does it actually reach saturation.yuekit
- Also when you say fewer people can afford to buy, would this be true with cryptocurrency? Given that it's infinitely divisible unlike say real estate.yuekit
- that's the thing, it's unknowable, and not at all rational. You can't predict the future. Maybe never? Maybe right now?monNom
- But it's good to know that when prices start rising exponentially, this is what's happening, and it nearly always snaps back faster than it went up.monNom
- Correction: it's actually not infinite, but can be divided down to 8 decimal points. Which allows you to buy a tiny amount right now.yuekit
- As for the affordability thing, it may be more of a willingness/capabili... If you want it but can't afford it (you're tapped out).monNom
- vs you're unwilling to buy at the current price. At some point everyone is either tapped out or unwilling.monNom
- The divisibility doesn't matter. It's the change in price over time that you care about. 100 pennies is the same as 1 dollar. a doubling yeilds the same.monNom
- Yeah I was talking more about the ease of continuing to buy as the price goes up.yuekit
- With a real estate bubble, an increasing number of people would be unable to invest at all as the price skyrockets. With cryptocurrency, you are still able buyyuekit
- you just get a smaller fraction.yuekit
- For RE, you can form a corporation, sell shares that allow fractional ownership. For bitcoin, an ETF/Mutual fund can do the same. You can always divide things.monNom
